Circuit Court Upholds Decision To Toss PwC Case

Law360, New York (January 18, 2007, 12:00 AM EST) -- Big Four accounting firm Pricewaterhouse Cooper has once again been vindicated in court, after an appeals court affirmed an earlier decision dismissing a securities fraud suit filed against the company.

The U.S. Court of Appeals for the Seventh Circuit on Wednesday upheld a decision by the U.S District Court for the Northern District of Illinois that dismissed a case brought against the auditor by wire and cable distribution company Tricontinental Industries Ltd.

The lower court tossed the case on the grounds that Tricontinental failed to meet...
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